Too Bullish On The Philippines?
Once dubbed “the sick man of Asia,” the Philippines is now being touted by many as the ASEAN nation worthy of investment consideration. It is not to suggest there are no challenges. International companies frequently cite lack of decision-making transparency and corruption as key operating challenges, plus a bureaucracy that can slow down processes. But an ongoing increase in pharmaceutical consumption, coupled with government investment in universal health care, as well as economic and population growth, make the Philippines an interesting and attractive mid-term pharmaceutical market in Asia.
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